MahaRERA Halts Registration of 20,000 Real Estate Brokers

A total of 47,000 agents were registered with the regulator, which initiated the registration of intermediaries for property transactions in 2017.

The real estate regulator in Maharashtra announced on Thursday that it has suspended the registration of 20,000 real estate brokers, reducing the number of registered agents in the state to 13,000.

Initially, a total of 47,000 agents were registered with the regulator, which started registering intermediaries for property transactions in 2017.

Earlier this year, the regulator cancelled the registration of 13,785 agents who did not renew their licenses.

Temporary Halt on Real Estate Broker Registrations

An official statement announced that registrations for an additional 20,000 agents have been suspended for one year due to their failure to obtain MahaRERA’s real estate agent certificate of competency or to upload the certificate on the watchdog’s website.

The licenses of these 20,000 agents can be renewed if they undergo training, obtain the certificate of competency, and upload it on the portal within a year, the statement noted.

An official mentioned that approximately 5,500 new candidates are expected to take the examination next month to become registered agents.

Ajoy Mehta, the chairman of the regulatory body, emphasized the crucial role of agents, highlighting the importance of their thorough understanding of the Real Estate (Regulation and Development) Act, 2016.

He mentioned that MahaRERA has mandated agents to undergo training, pass an examination, and obtain certification. This directive was initially announced on January 10, 2023, and underwent multiple extensions before becoming mandatory for all agents on January 1, 2024.

However, he noted that approximately 20,000 agents are still operating without meeting these qualifications, leading to their registrations being suspended. He cautioned that the regulator will not hesitate to cancel the registration of developers who continue to engage with these unqualified agents.

Posted and reproduced in Public Interest by

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